Metsä Board’s 3Q 2016 sales amounted to Euro 440 million, compared to Euro 422.9 million in 3Q 2015. Sales increased due to the deliveries of Husum's new folding boxboard and market pulp, as the company said in the press release received by Lesprom Network.
The operating result was Euro 26.6 million, and the comparable operating result was Euro 34 million. Items affecting comparability were Euro 7.4 million net and related primarily to the closure of the wallpaper base paper business.
Metsä Board’s sales amounted to Euro 1,298.5 million in January-September 2016, compared to Euro 1,545.3 million. Sales declined due to a considerable decrease in paper deliveries.
The operating result was Euro 93.8 million, and the comparable operating result was Euro 104.7 million.
Mika Joukio, CEO, said: “Comparable operating result for the 3Q remained on the same level as in the previous quarter, as we expected. Our result continued to be burdened by the lower price level of the start-up volumes of Husum's new folding boxboard. In addition, a leak in the pulp mill's recovery boiler and the production-related challenges of the new folding boxboard machine in the 2Q slowed down our customer deliveries especially to North America.
"The production and delivery volumes of Husum's new folding boxboard have increased steadily since the summer, and the average price of the order inflow is already at a good level. Due to the long lead time, the profit impact of the improved average price will nevertheless be visible with a delay of approximately three months. The profit development of our Finnish mills was positive. The decrease in working capital turned our cash flow from operations clearly positive.”
Metsä Board is a leading European producer of folding boxboards and white linerboards made from fresh fibres.
